Foreclosures up more than 0.5 percent in October

(CoreLogic )

December 26, 2012|By Steve Kilar | The Baltimore Sun

The foreclosure rate in the Baltimore metro area was up more than a half of one percent in October when compared to the rate a year earlier, according to numbers recently released by business data firm CoreLogic.

“Foreclosures among outstanding mortgage loans was 3.36 percent for the month of October 2012, an increase of 0.53 percentage points compared to October of 2011 when the rate was 2.83 percent,” the firm said in a statement. Those stats apply to the region made up of Baltimore and six nearby counties — Anne Arundel, Baltimore, Carroll, Harford, Howard and Queen Anne’s.

The national foreclosure rate in October was 3.06 percent. The foreclosure rate represents the percentage of loans that are at some point in the foreclosure process.

The Baltimore region’s mortgage delinquency also increased in October. About 7.9 percent of mortgages were three months or more overdue two months ago, compared to a 90-day-or-more delinquency rate of 7.42 percent in October 2011.

The 90-day delinquency rate includes loans that have gone into foreclosure or are real estate owned.